Why the Penny Should Be Eliminated

A Bill To Eliminate The Penny: Prelim Legislation #19: PROThe penny: Everyday you find them in your coat pocket, or lying on the sidewalk. Anyone who has been to a fast food restaurant has experienced the frustration of being behind someone who is attempting to pay for their purchase off the dollar menu with 100 pennies, wasting the time of everyone else in line. Pennies take refuge under couch cushions, and are either tossed to the side or put in a jar to be eventually traded in. In this day and age, nothing costs a penny anymore. Penny candies are a dime. Vending machines, parking meters, toll booths, slot machines… none of them take pennies. They rattle around in your purse or pocket, find their way into every crevice of your car and often end up being sucked up by a vacuum never to be seen again. The mere uselessness of the coin should be a reason in of itself to get rid of this small hassle. However, it also wastes the United States millions a year.

Today, it costs the U.S about 1.7 cents to make a penny. The amount of pennies minted each year varies, but it usually ranges between 3 billion and 7 billion per year. So in turn, instead of actually earning money from making these coins, the U.S can lose huge amounts of money. According to the The Washington Post In 2007, the U.S. Mint lost $31 million in making 6.6 billion new pennies. The current funding for pennies is only about 14.79 million dollars. Think about it: If there is an extra 16 million dollars being spent, where does that money come from? Out of tax payers’ pockets of course. Our hard earned money is being used to make even more money, except in a useless form. Retailers, too, incur penny-related costs of their own. More than 10 years ago, in a 1999 article, Time Magazine estimated that Walgreens lost $1.3 million each year merely counting pennies. When we are already nearly 14 trillion dollars in debt, why should we waste so much money on a coin that’s thrown into fountains at the mall?...

You May Also Find These Documents Helpful

...Lisa Dziedzic
Christopher Godat
English 1101
September 13, 2010
Should the Penny be Eliminated?
The penny, a copper and zinc coin, that represents one cent in the United States currency, is as American as apple pie. It is part of our heritage to honor and recognize our founding fathers and past presidents for their contributions to the economic system of America. According to the Harris Poll #51 conducted online between June 10 – 16, 2004 including 2,136 adults, the majority favor keeping the penny in circulation (Source E). The United States is a democracy and I believe we should let the people vote on this important issue.
Jim Kolbe, a U.S. Representative from Arizona tried to introduce a bill to discourage the use of pennies by establishing a system which would round up or down a cash transaction. It is dangling in a subcommittee. His press secretary states “It’s practically useless in everyday life”. However, is Kolbe’s argument about its uselessness or about increasing wealth in his home state? Arizona is rich in copper which is a predominant metal in larger denomination coins (Source A).
One argument for eliminating the penny is the wasted time fishing for pennies on cash transactions. Jeff Gore, founder of “Citizens for Retiring the Penny” conducted a study with The National Association of Convenience Stores...

...Why the Federal Reserve System should be Eliminated
There are many reasons why the Federal Reserve System should be eliminated because it manipulates the United States economy. The Federal Reserve creates boom-and-bust cycles; these are a type of cycle experienced by an economy characterized by alternating periods of economic growth and contraction. When the United State’s economy goes through these alternating periods the Federal Reserve inflates the money supply by telling the Treasury to print x amount of currency. This is a major problem because when the new currency is circulated the value of the United States dollar decreases. The Federal Reserve also tells the Treasury to print more currency when the government needs to borrow it, the problem with this is that when the government borrows money it does not properly enforce taxes to pay off the loan. This triggers debt in the government that leads to more and more borrowing of money from the Federal Reserve. Where exactly does all this debt go? It is bought by foreign countries like China and Japan and is placed on future generations of Americans to pay down the line. The Federal Reserve is reckless with its decisions to print more money at the expense of the American tax payer. We have seen this with the massive corporate bailouts by the government.
The Federal Reserve also manipulates the American economy by setting national...

...﻿
The PennyShould Not Be Eliminated From the United States Currency System
Alison Richey
Cicely Calilung
Danielle Williamson
Heaven Leonard
Zack Vanwinkle
New Albany High School
Abstract
This paper explores reasons why the pennyshould not be eliminated from the United States (US) currency system. In 2001 a legislation was introduced to Congress called the “The Legal Tender Modernization Bill” (LTMB). The Currency Overhaul for an Industrious Nation (COIN) Act was another attempt to eliminate the penny with. Important sources include the United States Mint and the Americans for Common Cents. The United States Mint is a producer and proponent of the cent. The American for Common Cents (ACC) is a pro-penny organization that educates people on the significance and usefulness of the penny.
The PennyShould Not Be Eliminated From the United States Currency System
The penny is the one-cent coin, worth one-hundredth of an American dollar, the lowest denomination coin of the United State currency. Pennies have been minted for over two hundred years, as the first penny the mint constructed was in 1793. Although the design and composition has changed abundantly throughout time, pennies have always symbolized the liberty and...

...Socially, a more educated population should have more choices regarding nutrition, jobs and lifestyle. An additional point is that university fees only contribute a small proportion of the university budget.
However, some people are opposed to free education. First of all, through their taxes, poor families subsidize rich students who can easily afford to pay fees. A second point is that spending government money on free education is often not possible or desirable when a country needs hospitals, roads, and primary or secondary schools. A third point is that a university education is a choice, not a requirement. People who finish college with advanced qualifications are going to earn large salaries and can easily afford to pay back loans. Furthermore, when people get something for free, they often do not value it. If college is free, many students will go there just because they cannot think of anything else to do.
Education is widely regarded as a key factor in the economic and social development of a country, but there are different attitudes about whether students should pay or not. Some regard education as a basic right, which should therefore be provided free, while others think the individual student should have to shoulder some of the costs of his or her education. This essay will examine some of the arguments for and against free education at third level.
There are several reasons why...

...increased profits
The opportunity that employees have for unethical behavior in an organization can be eliminated through formal codes, policies, and rules that are adequately enforced by management. For example, financial companies
Company Q is a small local grocery store chain located in a major metropolitan area. They have recently closed a couple of stores in higher-crime-rate areas of the city, reportedly because these two stores were consistently losing money. After years of requests from customers, all of their stores have started offering a very limited amount of health-conscience and organic products—all of which were high margin items. When asked by the area’s food bank for donation of day-old products, management declined deciding instead to throw the food away, citing worries over lost revenues due to possible fraud and stealing by employees who might say they are donating the food.
.
Kristine Saboff
WGU student ID#
Company Q’s Social Responsibility
Company Q is a small local grocery store chain. Unfortunately company Q is having a hard time with the idea of social responsibity, which in turn is hurting their business. Let’s first look at the definition of corporate social responsibility. This is a term that means a company big or small tries to maximize its positive impact on, investors, customers and on the community. Now let’s look at why Company Q is low on the evaluate scale of social responsibility....

...mil or (800) 966-7176
https://www.us.army.mil/suite/page/130061
DISCLAIMER
The contents of this document and/or media are not to be construed as an official Department of the Army
position unless so designated by other authorized documents. The use of trade names in this document and/or
media does not constitute an official endorsement or approval of the use of such commercial hardware or
software. Do not cite this document for the purpose of advertisement. Do not release to other than the intended
recipient(s).
CHANGES
Refer requests for all changes that affect this document to: Director, NETCOM/ESTA, ATTN: NETC-EST-G, Fort
Huachuca, AZ 85613-7070.
DISPOSITION INSTRUCTIONS
If this document/media is no longer required then it should be destroyed rather than returned to the issuing
organization. Safeguard and/or destroy this document with consideration given to its classification or distribution
statement requirements.
This is a Sensitive but UNCLASSIFIED document.
Page 1 of 3
Template Version 1.0.0
Review Date: 07/30/2008
Package Configuration
Specification
Subject: Army Golden Master
Revision:1.0
Title: ActivIdentity ActivClient CAC 6.1 x86
(6.1.3.95)
Audience: US Army Field IT Support staff tasked to
deploy the AGM Desktop and Laptop standard
build products.
Author:
A. Bernardo
Effective Date:
30 JUL 2008
I.
Overview
ActivClient is the latest smart card and USB token middleware from ActivIdentity
that...

...Whyshould prostitution be legal?
Can anybody tell me what is considered to be the world's most ancient profession? (doesn't require education, mostly involves women)
Some researchers confirm that prostitution is indeed the most ancient profession, while others argue with it; however, everybody agrees that trading sex for money has existed for quite a while. According to Wikipedia, prostitution began in the 21st century BC in Near East, most likely as a religious custom, and was practiced by Greeks, Romans, China and other ancient civilizations. Now, as we have entered into the 21st century AD, prostitution is still a part of modern society. The fact speaks for itself: as there will always be a demand for the services that it provides, prostitution will exist in some form no matter what.
The National Task Force on Prostitution suggests that over one million people in the US have at some point of their lives worked as prostitutes, with 4 years being an average length of their career. The above mentioned number equals to 1% of American women. (8)
Many nations reconsidered prostitution as something necessarily evil and against the law by legalizing it. England, France, Germany, Denmark, Canada, and Israel are some of them. However, prostitution stays illegal in the US, excluding 11 out of 17 counties of Nevada. Isn't it time to accept it as a part of our reality and try to regulate it?
Before going any further, I would like to say that I...

...﻿
Why Abortion Should Be Illegal
Many people around the world view abortion as a normal life event for many women. However, people are unaware of the psychological effect this leaves on the women. More is lost than just a baby. Mind, body, and loved ones can also be involved in effects from an abortion. The father and society as a whole are two other large things to consider into the situation of abortion. More than likely abortion has occurred or been related to every person in some way considering that “One baby is aborted every 26 seconds in the United States.” (Minnesota Citizens)
Christopher Jacoby tells us in his article, “Side Effects of Abortion,” that “The thought of abortion for some women can be a source for emotional and mental disorder. Many women see that they have the choice to decide.” (Jacoby) However, there are other people involved. Abortion not only affects the women that have them. The psychological effects of an abortion affect the mother, father and society and therefore abortion should be illegal.
The first person that comes to mind when thinking about an abortion is the mother. She is the person who will have to suffer the physical pain of birthing a child. The woman is mentally affected in different ways. James C. Coyne author of “Negative Mental Health Effects of Abortion” tells us, women who have had a history of abortion have increased rates...